Rio Tinto and BHP have agreed to explore collaboration to extract up to 200 mln tons of iron ore from their neighboring Yandicoogina and Yandi operations in the Pilbara. Under two non-binding memoranda of understanding, the companies will assess joint development of Rio Tinto’s Wunbye deposit and the supply of ore from BHP’s Yandi Lower […]
Rio Tinto, BHP explore joint iron ore development in Pilbara Read More »
Australian media billionaire Kerry Stokes, in partnership with U.S.-based Steel Dynamics, has submitted an all-cash offer worth nearly $9 billion to acquire BlueScope, Australia’s largest steel producer, in a deal that would significantly expand Stokes’ industrial footprint. The bidders said they plan to split the company along geographic lines, with Stokes’ SGH group taking control
Australia’s Anti-Dumping Commission has announced the results of its review of the anti-dumping duties imposed on rebar imports from South Korea and Spain, which were scheduled to expire on November 19, 2025, according to SteelOrbis. The review was initiated following an application submitted by the local producer InfraBuild, and it covered the period from October
Australia Continues to Impose AD Duties on Rebar Imports from South Korea and Spain Read More »
Australia’s steel sector is drawing criticism for focusing its decarbonisation efforts on natural gas rather than the global trend toward green hydrogen, according to a briefing which warns this risks locking the country into uncompetitive, high-emission technology. Kallanish notes from the Institute for Energy Economics and Financial Analysis (IEEFA) that while developed nations are prioritizing replacing
Report : Australia’s steel sector trapped by gas focus: IEEFA Read More »
China has temporarily banned all iron ore shipments from the world’s largest mining company, BHP, due to escalating disputes over pricing mechanisms, Bloomberg reported, citing sources familiar with the matter. According to the sources, China Mineral Resources Group, the state-owned entity, instructed local buyers this week to suspend purchases of any seaborne, dollar-denominated shipments from
China Temporarily Bans All Iron Ore Shipments from BHP Read More »
BHP has approved a $1.4 billion infrastructure project to boost iron ore export capacity at Port Hedland. The project will install a sixth car dumper and new conveyors to increase unloading capacity and reduce downtime during the scheduled equipment update in the fiscal year 2029. This upgrade aims to raise equipment availability from the current
BHP boosts iron ore capacity with $1.4 billion port upgrade Read More »
On September 8, Australian iron ore (62% Fe, CFR China) rose by USD 0.9 to reach USD 105.25, marking its highest level since February 28 and the first time in six months it surpassed the USD 105 mark. Monthly performance shows an increase of USD 2.45 this month (up 2.38%), while gains since the beginning
Iron Ore Hits 6-Month High Read More »
Reuters reported that global mining company Rio Tinto has raised concerns about the feasibility of developing the green steel industry in Australia, pointing to the lack of sufficient economic incentives to support efforts to decarbonize steel production. The company explained that implementing such projects in Australia faces significant challenges, most notably the high construction costs,
Rio Tinto Expresses Doubts About the Future of Green Steel in Australia Read More »
Iron ore futures rose, driven by improved relations between the largest producer, Australia, and its largest consumer, China, although gains were capped by ongoing concerns about the weakness of China’s property sector. The most-traded iron ore contract for September delivery on China’s Dalian Commodity Exchange rose 1.11% to 773.5 yuan ($107.71) per tonne by 03:03
Iron ore futures rise as China-Australia relations improve Read More »
The Australian-British mining group Rio Tinto has announced the official opening of its new Western Range mine. Western Range, a joint venture between Rio Tinto and China’s Baowu (54% and 46%, respectively), has a production capacity of 25 million tons of iron ore per year. As noted, the $2 billion project was completed on time
Rio Tinto and Baowu officially open Western Rang mine Read More »
In a discovery that marks a turning point in the mining sector, massive iron ore deposits have been found in a remote area of Western Australia, with an estimated market value of approximately $6 trillion. These deposits, located in the Hamersley region, known for its mineral wealth, have been found to contain the world’s largest
Australia : World’s largest iron ore reserve discovered, estimated at 55 billion tons Read More »
Australian Prime Minister Anthony Albanese said Wednesday, after failing to secure an exemption from the US tariffs on his country’s steel and aluminum exports, that the tariffs, which just took effect, are “completely unjustified.” After the White House dashed Australia’s hopes that its steel and aluminum exports to the United States would receive an exemption
Australian Prime Minister: US tariffs on Australian steel are “completely unjustified” Read More »
In February, Australia reduced coking coal exports by 26.5% year-on-year – to 8.99 million tons. This figure fell by 20.4% compared to the previous month, BigMint reports. Australian exports of coking coal to China in February decreased by 52% m/m – to 0.48 million tons, to India – by 45% m/m, to 1.63 million tons.
Australia reduced coking coal exports by 26.5% in February 2025 Read More »
The British-Australian mining concern Rio Tinto is investing $1.8 billion in the development of the Brockman Syncline1 (BS1) project, located near the operating Brockman 4 mine in Western Australia. This is stated in the company’s announcement. The project has now received all the necessary permits from the state and federal governments and was developed in
Rio Tinto invests $1.8 billion to expand iron ore production in Australia Read More »
The world’s biggest mining companies have benefited from China’s surge in demand for iron ore in the past, but they are now being hit by the economic challenges facing China, their biggest customer. Australia’s BHP Group, Rio Tinto, Fortescue and Brazil’s Vale all reported lower profits this week, as prices for the key steelmaking metal
Mining companies’ profits fall as China’s demand for steel slumps Read More »
Australia-based miner Rio Tinto has announced its financial results for 2024.The company has posted a net profit of $11.57 billion for 2024, compared to $9.95 billion in the previous year. In 2024, the company’s consolidated sales revenues decreased by 0.7% to $53.66 billion compared to 2023 due to lower prices in line with slowing global
Rio Tinto Reports Lower Results amid Lower Iron Ore Prices Read More »
Japanese brokerage Mitsui is set to buy a stake in an iron ore exploration project in Australia, becoming a partner of Rio Tinto Group. Mitsui said in a statement on Wednesday that it will acquire a 40% stake in the Rhodes Ridge exploration project in Western Australia for $5.3 billion, according to Bloomberg. It explained
Japan’s Mitsui to buy $5.3 billion stake in Rio Tinto’s iron ore project Read More »
Iron ore prices rose during Wednesday’s trading, amid disruption of shipping traffic in Australian ports due to bad weather conditions, and expectations of a recovery in demand in the short term, especially in China. Iron ore futures for March delivery on the Singapore Exchange rose by 1.80% to $107.80 per tonne at 12:50 pm Mecca
Iron ore prices rise by about 2% due to disruption of shipping traffic in Australia Read More »
US President Donald Trump has agreed to consider exempting Australia from steel and aluminium tariffs in light of the country’s trade surplus with the United States, following a phone call with Prime Minister Anthony Albanese. Trump sharply raised tariffs on steel and aluminium imports on Monday, eliminating exemptions and quotas for major suppliers. His decision
Trump considers exempting Australia from steel tariffs Read More »
Iron ore prices rose on Australian supply disruption concerns due to the hurricane season. March iron ore futures on the Singapore Exchange rose 2.16% to $150.95 per tonne at 10:52 a.m. Mecca time. According to a note issued by the Chinese consulting firm Hexun Futures, Australia is currently experiencing a hurricane season, which threatens to
Iron ore prices rise more than 2% on Australian supply disruption concerns Read More »
Australian authorities have closed Port Hedland, the country’s largest iron ore export hub, due to a tropical cyclone developing off the coast of Western Australia’s Pilbara region. The Pilbara Ports Authority, which operates the port, has ordered all cargo ships to leave the port by 6pm local time, amid expectations that two tropical depressions will
Australia closes major iron ore export ports due to tropical cyclone Read More »
Rio Tinto expects iron ore production to grow by 15 million tons in 2023-2025, CEO Jacob Stauscholm said during an investment seminar in London. In particular, in 2024 and 2025, the company forecasts an annual increase of 5 million tons, Australia Mining reports. A key area for Rio Tinto is the Simandou project in Guinea,
Rio Tinto expects iron ore production to grow by 15 million tons in 2023-2025 Read More »
In July, Australia’s coking coal exports to key Asian markets fell sharply. Exports to India fell 33% m/m to 2.34 million tonnes, Japan fell 2% m/m to 2.59 million tonnes, China fell 27% m/m to 1.16 million tonnes, and Vietnam fell 61.5% m/m to 0.25 million tonnes. Meanwhile, exports to South Korea rose 23% m/m
Australia reduced coking coal exports by 17% m/m in July Read More »
The British-Australian mining company Rio Tinto announced its production volume in the second quarter of current year to 79.5 million tons. The volume of exports in the same period reached 80.3 million tons, an increase by 3% compared to the first quarter of current year and an increase by 2% compared to the second quarter
Rio Tinto production and exports declined by 2% in H1 of 2024 Read More »
Mining company BHP announced the growth of its total production of iron ore during the last quarter of the last fiscal year to 69.21 million tons, compared to 65.30 million tons during the same period of the previous year. Production of “Western Australian Crude Oil” (WAIO) rose during the last quarter to 68.17 million tons,
BHP’s iron ore production growth in the fourth quarter of the fiscal year Read More »
BHP Group, which is the largest mining company in the world, revealed that it may not be able to achieve zero emissions by 2050 amid its production of huge quantities of iron ore, which is an emissions-intensive material. However, the group confirmed that it is still working hard to achieve this, pointing to its efforts
Iron ore prices fell in Monday trading below the level of $100 per ton to record their lowest levels since May 2023, with the continued impact of the real estate sector crisis in China on demand, in addition to the abundance of supply enhancing pressure on prices. In Australia, which is the largest iron ore
Iron ore prices fell to their lowest levels in 10 months Read More »
Australian mining company BHP Billiton has announced its financial results for the first half ended December 31 of the financial year 2023-24. Accordingly, BHP Billiton has posted a net profit of US$1.7 billion for the first half of the financial year 2023-24, down from a net profit of US$7.12 billion in the corresponding period of
BHP Billiton posts a net profit of $1.7 billion for H1 FY 2023-24 Read More »
Australian mining giant BHP said that turmoil in the Red Sea is forcing some shipping companies to take alternative routes, such as the Cape of Good Hope, around Africa, while other companies still prefer the Red Sea with additional controls. One of the largest mining companies in the world added in a statement: “The Red
Australian BHP redirects some of its shipments to the Cape of Good Hope Read More »
The Anglo-Australian Rio Tinto expects to start production at its mining project – which is the largest in the world – in Guinea this year, after a 27-year hiatus that witnessed many surprises and political tensions. Bold Batar, CEO of Rio Tinto’s copper business, said in an interview with the Financial Times that it hopes
The world’s largest iron mining project will begin production this year Read More »